Coherent Arbitrariness: On Value Uncertainty for Environmental Goods

Nick Hanley, Bengt Kriström () and Jason Shogren

Land Economics, 2009, vol. 85, issue 1, 41-50

Abstract: This paper investigates the idea that people are unsure about the value they place on prospective changes in environmental goods. In particular, we focus on a parametric explanation of the determinants of a "value gap," the difference between the most someone is sure they would pay for an increase in an environmental good, and the smallest amount they are sure they would not pay. We also present a simple means of calculating aggregate willingness to pay from data on the range of willingness to pay expressed via a payment ladder.

JEL-codes: Q51 Q58 (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (47)

Downloads: (external link)
http://le.uwpress.org/cgi/reprint/85/1/41
A subscription is required to access pdf files. Pay per article is available.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:85:y:2009:i:1:p:41-50

Access Statistics for this article

More articles in Land Economics from University of Wisconsin Press
Bibliographic data for series maintained by ().